Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Wednesday, May 6, 2015

CFPB Issues Report on ‘Credit Invisible’ Individuals

The CFPB issued a report on the 26 million Americans it calls “credit invisible” — those without a history at a major credit reporting bureau — and the 19 million additional Americans whose credit histories are too old or sparse to be accurately scored.

The bureau’s findings show a correlation between low incomes and being credit invisible or unscored, noting that more than 45% of consumers in low-income neighborhoods fit these categories. The CFPB also said that whites and Asian Americans are less likely than blacks or Hispanics to be credit invisible or unscored.

Read the report.

No comments:

Post a Comment

Please read our comment policy before making a comment.